In this area, we are not seeing them much anymore. What happens in my area is they are not good on the market value and all their homes sit on market longer than other listings. Made an offer on one based upon market value; they laughed at the offer. It sat on market at least another six months and sold for the offer we made. Said something to my broker about them and she laughed and said "Yep they always overprice." My broker is in the Austin area. PS this was in 2021 when market was hotter than now with good interest rates.
Yes, we're not seeing them as much either here in the Flower Mound/northern Dallas-Fort Worth area. I think for one reason is the price point is not conducive to what they buy. And you're right, they definitely overprice their homes and let them sit for months at a time. It will be interesting to see if their business model lasts.
They pulled out of closing one week before for no reason whatsoever all of the money which was supposed to protect me in case they did that and because they use their own companies I could not get acclaim to it they are horrible I wouldn't recommend cost me $100,000 easily
Correct. According to their website, here is what they say: We can typically buy homes with solar panels if the panels are owned outright.If the home has leased solar panels, we can only buy it if the lease has been pre-paid or purchased outright at the time of closing.
I decided to talk to them on the phone and yep sure enough. They said they'll have to have it bought out. But that that could be done against my proceeds of the sale. In my case, there's like 10 years left on the solar lease. So this is now a big consideration. Because when I sell with a real estate agent, a regular buyer can just assume the solar lease as I did when I bought the house. Good to know! Thanks!
@@EE-bl3zr even if you decide to sell with a real estate agent, you can still pay it off with the proceeds from your sale. And likely make more from your sale than if you sell to Opendoor - after they give you their cost of repairs to subtract from their initial offer. We've had experience helping sellers navigate selling with leased panels. Yes, technically most companies will allow the new buyer to assume the lease. But they must qualify, on top of the loan they are getting to buy your house (unless they pay cash). And most buyers don't want to do that. They want the panels to come with the house - free and clear. Unless you can clearly show how much money the panels are saving you.
I don't recall having to do any additional qualification to assume the lease when I bought it so it was no big deal. I'm not in Texas so maybe it's different in Texas. I'm looking into doing portfolio trading with their existing homes because I want a simple process. I do know a good agent though in the area in the event that that doesn't look optimal.
Unfortunately they can offer whatever works for their numbers. They will typically offer at or close to market value, then reduce that number greatly for any perceived updates or repairs. Their main focus is people that want a fast sale.
